Tag: business news

‘Star Wars’ puts EA way ahead of fiscal expectations

Electronic Arts corporate

Electronic Arts (EA) announced their financial results for the company’s second fiscal quarter on Thursday, and they have exceeded expectations.     The video game developer received a non-GAAP net revenue of $1.146 billion, when they were attempting to reach $1.075 billion. EA’s rising revenue comes as a surprise to many, since EA was voted… Read More

Pharmaceutical company embroiled in Enron-sized scandal

Valeant building

Valeant Pharmaceuticals International Inc. is in full-on crisis mode amidst accusations of fraudulent accounting practices. Citron Research, a provider of short-focused market commentary, has reported that the Canadian pharmaceutical company is storing excess inventory in subsidiaries and then reporting that inventory as sales revenue. These types of unethical accounting practices are very similar to those… Read More

Twitter CEO Jack Dorsey boosts employee morale after big layoffs

Twitter's Twitter page

Twitter CEO, Jack Dorsey, announced that he will be giving a third of his company stock to the employee equity pool. The shares are valued at around $200 million and make up about 1 percent of the company.   Dorsey tweeted that he made this decision because he wants to “reinvest directly in our people.”… Read More

Blue Christmas: Will retailers have a cheerful holiday season?

holiday shopping

The holiday season is the most lucrative time of the year for the retail industry, but sales growth is predicted to falter in 2015. Many sources, including the National Retail Federation, analytics firm RetailNext, market research firm NPD, and consulting firm AlixPartners, believe year over year holiday sales growth will shrink in comparison to 2014.… Read More

Trans-Pacific Partnership agreement finally reached: Should the U.S. be in or out?

After over 10 years of negotiations spanning changes in leaders and administrations across multiple countries, the Trans-Pacific Partnership (TPP) was agreed upon in Atlanta, Georgia earlier this month. The partnership encompasses 12 countries, which account for nearly 40 percent of world trade and have a combined population of approximately 800 million people.   The member… Read More

How one family lost $11 billion in a single day

Wal-Mart store

The Waltons, America’s richest family whose combined wealth is approximately $149 billion, saw their personal fortune decline by approximately $11 billion as Wal-Mart shares plummeted last week. The Walton family fortune is controlled by founder Sam Walton’s three surviving children and his deceased son’s widow. Together, they own over 50 percent of all outstanding Wal-Mart… Read More

Gambling and racketeering: The latest problems for daily fantasy sports

Nevada’s Gaming Control Board decided on Thursday that those running daily fantasy sports contests within the state now need a gambling licence to operate, or they must shut down these events.       Daily fantasy sports contests have been heavily debated recently, some saying it’s gambling while others believe it’s a game of skill. The fantasy… Read More